Registered in 1988, the Nigerian Association of Road Transport Owners (NARTO), is an amalgam of three hitherto region-based transport associations, whose business is to fight for a conducive environment for its members’ operations to thrive. Emmanuel Addeh writes that at its Annual General Meeting which held last week, the body, an umbrella of all commercial vehicles owners in Nigeria, renewed its vow to continue serving the country through its services, especially the haulage of petroleum products around Nigeria
Formed from the Northern Association of Licenced Buying Agents and Transporters (NALBAT), the Nigerian Transport Owners Association (NTOA) and Eastern Road Haulage Association (ERHA) for the north, west and eastern regions, respectively, NARTO, has recently gained prominence, following the important role it plays in getting fuel and other commodities to Nigerians.
• Fewer than 25 of over 300 textile companies in operation
• Why Nigeria cannot export raw cotton despite boom
• With consistent policies, Nigeria has huge potential, says Ogunlesi
• WTO exposed Nigerians to cheaper textiles
Despite years of intervention, Nigeria’s textile industry is a departure from the ideal, owing to challenges of huge appetite for importation, poor patronage, policy implementation and a broken value-chain.
According to stakeholders, if only 10 per cent of the yearly import bill of $4 billion textile fabrics is re-invested into the textile industry, the country would be a net exporter and expand its revenue from programmes like the African Growth and Opportunity Act (AGOA) of the United States.
By Kadiri Abdulrahman
At the inception of the present regime on May 29, 2015, President Muhammadu Buhari expressed his intention to diversify the Nation’s economy and move it away from sole dependence on crude oil.
Top on the government’s list of diversifiable alternatives was agriculture. Government’s intention was to ensure that the country developed the agriculture sector to a point where it will complement crude oil receipts with huge exportation of agricultural products. The idea was for the country to boost agricultural production and for Nigeria to reverse its negative balance of payment on food.
The first step, however, will be for the nation to achieve self sufficiency in food by, at least, “growing what we eat,’’ and then, put a stop to the reckless importation of food items. This was supposed to help save scarce foreign exchange which can then be used for other more pressing needs.
Top on the government’s list of diversifiable alternatives was agriculture. Government’s intention was to ensure that the country developed the agriculture sector to a point where it will complement crude oil receipts with huge exportation of agricultural products.
The idea was for the country to boost agricultural production and for Nigeria to reverse its negative balance of payment on food.
The first step, however, will be for the nation to achieve self sufficiency in food by, at least, “
growing what we eat,’’ and then, put a stop to the reckless importation of food items. This was supposed to help save scarce foreign exchange which can then be used for other more pressing needs.
Punch Newspapers
Sections
Okechukwu Nnodim, Abuja
The Central Bank of Nigeria’s financial disbursements on about 3.1 million projects have risen to N6.01tn, the apex bank has said.
It was learnt that the over three million projects were financed through 29 interventions, while the bank currently has 36 active intervention programmes.
The Director, Development Finance Department, CBN, Yusuf Yila, disclosed this at the African Continental Free Trade Agreement Strategy Workshop Series II on financial services and investment mobilisation, with the theme ‘Leveraging Nigeria’s financial services sector to maximise the gains of AfCFTA’.
Yila’s position at the workshop was contained in a statement issued in Abuja on Sunday by the Secretary, National Action Committee on AfCFTA and Senior Special Assistant to the President on Public Sector Matters, Francis Anatogu.